Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Director Todd C. Davis sold 17,170 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $152.37, for a total transaction of $2,616,192.90. Following the sale, the director now owns 65,898 shares of the company’s stock, valued at approximately $10,040,878.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Ligand Pharmaceuticals Inc. (LGND) traded up $1.00 during trading on Wednesday, reaching $179.10. 430,392 shares of the company traded hands, compared to its average volume of 312,526. The stock has a market cap of $3,872.32, a P/E ratio of 354.34, a price-to-earnings-growth ratio of 1.85 and a beta of 1.10. Ligand Pharmaceuticals Inc. has a 12-month low of $102.56 and a 12-month high of $184.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.97.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Wednesday, February 21st. The biotechnology company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.12. Ligand Pharmaceuticals had a net margin of 8.90% and a return on equity of 14.44%. The company had revenue of $50.50 million during the quarter, compared to the consensus estimate of $49.39 million. During the same quarter in the previous year, the firm earned $1.25 EPS. The company’s revenue was up 32.2% on a year-over-year basis. sell-side analysts predict that Ligand Pharmaceuticals Inc. will post 3.59 earnings per share for the current year.
A number of research analysts have issued reports on the stock. BidaskClub raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Craig Hallum reissued a “buy” rating and set a $170.00 price objective (up from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. HC Wainwright restated a “buy” rating and set a $169.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday, January 18th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $171.00 target price on the stock in a research report on Wednesday, February 28th. Finally, Deutsche Bank lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $161.00.
A number of institutional investors have recently bought and sold shares of LGND. Assetmark Inc. boosted its stake in Ligand Pharmaceuticals by 336.4% during the 4th quarter. Assetmark Inc. now owns 1,056 shares of the biotechnology company’s stock valued at $145,000 after purchasing an additional 814 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ligand Pharmaceuticals by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after acquiring an additional 359 shares during the period. We Are One Seven LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $179,000. Harbor Advisors LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter worth approximately $204,000. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Ligand Pharmaceuticals by 9.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,799 shares of the biotechnology company’s stock worth $218,000 after acquiring an additional 154 shares during the period.
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Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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